Market Overview:
The global object storage service market is expected to grow at a CAGR of over 20% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for cloud-based storage solutions by large enterprises and SMEs across the globe. In addition, the growing trend of hybrid cloud deployments is also contributing to the growth of this market. The global object storage service market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into public cloud, private cloud, and hybrid cloud. The public cloud segment is expected to account for a major share in terms of revenue in 2018 owing to its low cost and easy accessibility. However, private clouds are anticipated to witness higher growth rates during the forecast period as they offer more security and control than public clouds do. By application, it can be classified into BFSI (banking & financial services), retail & ecommerce sector,, media & entertainment sector,, healthcare sector,, government sector,.and others including education institutions etcetera). Among these applications segments,.the BFSI segment is projected hold a dominant position in terms of revenue contribution throughoutthe forecast period.
Product Definition:
An object storage service is a cloud-based storage platform that enables users to store, manage and access data from anywhere in the world. Object storage services are typically used for storing large amounts of unstructured data, such as photos, videos and documents.
The importance of object storage services lies in their ability to provide users with a scalable and easily accessible platform for storing large amounts of data. Object Storage Services can be accessed from any device with an internet connection, making them an ideal option for businesses that need to store or access data from multiple locations. Additionally, object storage platforms are often more cost effective than traditional hard drive-based solutions.
Public Cloud:
Public cloud is a group of services that make up the infrastructure for providing shared pools of storage and processing power. It can be used by any individual or company to store their data, applications, and run software on the same hardware. The major factor responsible for its high market growth is cost efficiency as compared to private cloud which has higher pay-as-you-go option charges but offers less storage space at a low monthly fee.
Private Cloud:
A private cloud is a type of cloud service that provides shared infrastructure and software environment for organizations. It is an internalCloud used by organization to store data, applications, and virtual machines. Private clouds are also known asInternal Cloud orPrivate Infrastructure Cloud (PICC).
Application Insights:
The large enterprises segment accounted for the largest market share in 2017 and is expected to continue its dominance over the forecast period. The large enterprise segment is further divided into public and private clouds based on their data storage requirements. Public cloud object storage services are preferred by many large enterprises as they offer cost-efficient solutions while increasing operational efficiency.
Large enterprises usually have a separate server room or Data Center where they store their critical data which needs to be protected from physical, logical, and accidental damage. Object storage service providers such as Amazon Web Services (AWS), Microsoft Azure, IBM Cloud Storage Connections offer multi-AZ capability that helps in cost reduction by reducing redundant costs associated with storing data multiple times across different disks or drives in a computer system. This also helps in improving performance by avoiding unnecessary seek operations for reading from disk drives or writing to disk partitions which increases productivity of IT professionals managing these systems on daily basis.
Regional Analysis:
The global market has been segmented on the basis of region into North America, Europe, Asia Pacific and MEA. The North American regional market accounted for a major share in 2017 owing to the presence of prominent players such as Amazon Web Services, Inc.; Google; IBM Corporation; Microsoft Corporation; and Oracle Corporation. These companies are investing heavily in building data centers that store information across multiple geographical locations to serve their customers better. For instance, in January 2018, Google announced plans to build a new global network of 100+ data centers around the world at an investment exceeding USD X billion over three years beginning from 2018.
The Asia Pacific regional market is expected to witness significant growth over the forecast period owing to increasing investments by cloud service providers (CSPs) such as Alibaba Group Holding Ltd., Baidu Inc., Tencent Holdings Limited and others for building storage facilities across China and India.
Growth Factors:
- Increasing demand for data storage: The global object storage service market is expected to grow at a CAGR of over 26% from 2016 to 2024, owing to the increasing demand for data storage across various industries. With the advent of big data and IoT, the need for efficient and scalable data storage solutions has increased significantly, which is fueling the growth of the object storage service market.
- Growing popularity of cloud-based services: Cloud-based services are becoming increasingly popular due to their scalability and cost-effectiveness. Object Storage Service (OSS) is a type of cloud-based service that offers an efficient way to store large amounts of unstructured data. This is contributing significantly to the growth of the global object storage service market.
- Proliferation of connected devices: The number of connected devices is growing rapidly due to advancements in technology and rising consumer demand for convenience and connectivity everywhere they go. This proliferationof connected devices has resulted in an exponential increase in digital content, which needs to be stored somewhere efficientlyand securely . Object Storage Service provides an ideal solution for this problem, thus driving itsgrowth .
Scope Of The Report
Report Attributes
Report Details
Report Title
Object Storage Service Market Research Report
By Type
Public Cloud, Private Cloud, Hybrid Cloud
By Application
Large Enterprises, SMEs
By Companies
HUAWEI, Alibaba, Amazon, Wasabi Technologies, MinIO, Oracle, NetApp, Google, Tencent, IBM, T-Systems International, OVHcloud
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
122
Number of Tables & Figures
86
Customization Available
Yes, the report can be customized as per your need.
Global Object Storage Service Market Report Segments:
The global Object Storage Service market is segmented on the basis of:
Types
Public Cloud, Private Cloud, Hybrid Cloud
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Large Enterprises, SMEs
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- HUAWEI
- Alibaba
- Amazon
- Wasabi Technologies
- MinIO
- Oracle
- NetApp
- Google
- Tencent
- IBM
- T-Systems International
- OVHcloud
Highlights of The Object Storage Service Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Public Cloud
- Private Cloud
- Hybrid Cloud
- By Application:
- Large Enterprises
- SMEs
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Object Storage Service Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Object Storage Service (OSS) is a cloud storage service that provides persistent storage for objects, such as files, images, and videos. OSS can be used to store any type of object and supports a variety of file formats. OSS is available from Google Cloud Platform (GCP), Amazon Web Services (AWS), Microsoft Azure, IBM Bluemix Cloud Platforms, and other providers.
Some of the key players operating in the object storage service market are HUAWEI, Alibaba, Amazon, Wasabi Technologies, MinIO, Oracle, NetApp, Google, Tencent, IBM, T-Systems International, OVHcloud.
The object storage service market is expected to register a CAGR of 20%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Object Storage Service Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Object Storage Service Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Object Storage Service Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Object Storage Service Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Object Storage Service Market Size & Forecast, 2020-2028
4.5.1 Object Storage Service Market Size and Y-o-Y Growth
4.5.2 Object Storage Service Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Public Cloud
5.2.2 Private Cloud
5.2.3 Hybrid Cloud
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Large Enterprises
6.2.2 SMEs
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Object Storage Service Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Object Storage Service Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Public Cloud
9.6.2 Private Cloud
9.6.3 Hybrid Cloud
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Large Enterprises
9.10.2 SMEs
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Public Cloud
10.6.2 Private Cloud
10.6.3 Hybrid Cloud
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Large Enterprises
10.10.2 SMEs
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Public Cloud
11.6.2 Private Cloud
11.6.3 Hybrid Cloud
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Large Enterprises
11.10.2 SMEs
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Public Cloud
12.6.2 Private Cloud
12.6.3 Hybrid Cloud
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Large Enterprises
12.10.2 SMEs
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Public Cloud
13.6.2 Private Cloud
13.6.3 Hybrid Cloud
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Large Enterprises
13.10.2 SMEs
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Object Storage Service Market: Competitive Dashboard
14.2 Global Object Storage Service Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 HUAWEI
14.3.2 Alibaba
14.3.3 Amazon
14.3.4 Wasabi Technologies
14.3.5 MinIO
14.3.6 Oracle
14.3.7 NetApp
14.3.8 Google
14.3.9 Tencent
14.3.10 IBM
14.3.11 T-Systems International
14.3.12 OVHcloud
